Due to dissatisfaction with customer service, analysts’ surveys advise that over a third of global retail banking customers moved providers in 2011. Losing this segment of customers reduces the opportunity to sell more financial products at the branch, negatively impacting profitability and growth.
Retaining and developing the existing customer relationship is vital, as it provides a much greater return on investment than attracting new ones.
To achieve this, the uniqueness of the branch banking experience is still regarded as key to success. However, when efficiently transforming the branch customer engagement model there are key challenges to address.
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